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Croatian Industrial Production Jumps in One Month

Croatian industrial production has increased by 5.9% in September compared to the previous month, according to the Central Bureau of Statistics (CBS).

Seasonally adjusted, the figure was 5.4% and is the biggest monthly jump in industrial production in the country since April of 2008.

September’s growth represents eight consecutive months of rising industrial production. Eight months of increasing industrial production has not been seen in Croatia since 2007, two years before the six year recession hit the country.

Industrial production increased in August of this year by 2.8%, compared to the previous month.

Deputy Prime Minister, Branko Grcic, told Croatian media that the significant share of industry in the country’s economy, (approximately 20%), will mean that it will have a significant impact in the quarterly growth figure, when released.